The proposed bill seeks to enhance West Virginia's economic landscape by establishing the "West Virginia-Powered Data Center Incentive Act," which aims to attract data centers to the state. Key provisions include eligibility criteria requiring a minimum capital investment of $50 million, the creation of at least 50 new jobs, and the use of coal-generated electricity for at least 80% of operational capacity. The bill also introduces a property tax assessment at salvage value for qualifying data centers and provides a sales and use tax exemption for eligible facilities. Additionally, it outlines an application process for these incentives, compliance requirements, and the authority for the Tax Commissioner to create relevant rules. Significantly, the bill includes a new exemption for sales of equipment and tangible personal property used in the operation and maintenance of qualifying data centers, marked as (51) Sales of equipment and tangible personal property purchased for use in the operation and maintenance of a qualifying data center, as defined in 11-6H-3 of this code.. It also clarifies existing exemptions for various organizations and emphasizes the need for accurate record-keeping for claiming these exemptions. The effective date for the provisions related to data centers is set for tax years beginning on or after January 1, 2025, reflecting a commitment to leveraging local coal resources while promoting economic growth and technological advancement in the region.

Statutes affected:
Introduced Version: 11-13-2o, 11-15-9, 11-6M-1, 11-6M-2, 11-6M-3, 11-6M-4, 11-6M-5, 11-6M-6, 11-6M-7, 11-6M-8, 11-6M-9, 11-6M-10